Commentary on development, globalization, and trade by Jonathan Dingel.

Hanke recommends free banking for Zimbabwe

Steve Hanke thinks Zimbabwe should adopt a new monetary regime by allowing competition between privately issued currencies. Given the current disaster, with inflation exceeding one thousand percent, that sounds quite reasonable. But the reason the country is in the midst of hyperinflation is that Robert Mugabe is not reasonable, so there’s little reason to call for free banking in Zimbabwe.